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Pizza Hut Restaurants mulls CVA: report
The business employs 5,700 people in the UK.
Pizza Hut Restaurants is now the latest restaurant chain to explore the possibility of an insolvency agreement that may entail significant job losses.
Sky News reported that the business, which employs 5,700 people in the UK, has instructed Alvarez & Marsal to examine the merits of a company voluntary arrangement (CVA).
Sources also said that a final decision had yet to be taken by the chain but that a CVA was "a distinct possibility.”
213 out of the pizza chain’s 244 restaurants will be trading by 10 August. Pizza Hut Restaurants is a separately owned entity to the brand's UK delivery arm, which trades from a further 380 outlets.
Read the full report here.
